Binance Coin (BNB) has been experiencing a price drop since its all-time high of $717 earlier this month. Despite efforts to defend the gains, the price has retreated to the $570 support zone. Technical indicators suggest further losses are likely, with the daily RSI at 40 and the CMF at -0.05, indicating bearish momentum and capital outflow.

The Open Interest (OI) has been declining since June 6, from $1.068 billion to $554 billion, indicating a lack of interest in BNB futures contracts. The spot CVD (Coin Volume Depth) has also been trending downwards, with a slight increase in the last two days. The funding rate has picked up, suggesting speculators may be turning bullish again.

The price drop has been uninspiring, with the mid-range level at $570 being tested as support. The liquidity at $550 and $520 is likely to attract prices before a bullish recovery. The slow rise in spot demand is a hopeful sign, but the lack of consistent demand has hindered the recovery.

The decline in BNB's price is a significant reversal from its earlier gains. The failure to defend the breakout past the $635 resistance has led to a bearish outlook. The next target for BNB's price is likely to be $500, a level that may attract buyers and potentially reverse the trend.

In conclusion, Binance Coin's price drop is a significant reversal from its earlier gains. The technical indicators and futures market data suggest further losses are likely, with the next target being $500. While the slow rise in spot demand is a hopeful sign, the lack of consistent demand has hindered the recovery. Traders should exercise caution and consider the bearish outlook before making any investment decisions.